Taiwan's c.bank to stabilise forex market after Fed cuts rates

Taiwan's central bank will act to stabilise the foreign exchange market after the U.S. Federal Reserve cut interest rates in response to the fast-spreading coronavirus, a bank official told Reuters on Wednesday.

"We don't know how powerful this will be," said the central bank official, speaking on condition of anonymity, referring to the impact of the U.S. decision on Taiwan's foreign exchange market.

The Taiwan dollar strengthened against the U.S. dollar more than 0.7% on Wednesday morning.